The Universal Service Obligation Fund (USOF), a Rs 50,000 crore strong reserve has released INR 750 crore each to BSNL and BBNL, to make payments to their vendor-partners for deploying the fiber-based network.
December 12, 2019
State-run companies Bharat Sanchar Nigam Limited (BSNL) and Bharat Broadband Network Limited (BBNL) have finally started to clear their outstanding to vendors and contractors for the mega BharatNet-II program following the release of INR 1500 crore worth of capital by the Department of Telecommunications (DoT).
Delhi-based Aksh OptiFibre had recently said “bankruptcy threat” looms over it due to non-payment of dues of more than Rs 85 crore, mainly towards deliveries to BharatNet-II programme. BSNL also owes nearly Rs 150 crore to Gurgoan-based Vihaan Networks.
The development has come on the close heels of representatives of homegrown companies meeting the telecom secretary Anshu Prakash and seeking the top official’s ‘immediate intervention’ to save financially-stressed domestic firms from collapse.
BSNL and BBNL have already disbursed the payable amount to a few circles including Uttar Pradesh (East) and Madhya Pradesh in accordance to bills approved.
